{"success":true,"data":{"pressRelease":{"id":"20691","rtpr_id":"nBw15yfFKa","ticker":"SLQT","exchange":"NYSE","all_tickers":["SLQT"],"title":"SelectQuote, Inc. Reports Third Quarter of Fiscal Year 2026 Results","author":"Business Wire","published_at":"2026-05-05T11:00:01.600Z","article_body":"SelectQuote, Inc. Reports Third Quarter of Fiscal Year 2026 Results\n\nThird Quarter of Fiscal Year 2026 – Consolidated Earnings Highlights\n\n\n * Revenue of $430.9 million\n\n * Net income of $40.2 million\n\n * Adjusted EBITDA* of $44.6 million\n\nFiscal Year 2026 Guidance Ranges:\n\n\n * Revenue expected in a range of $1.61 billion to $1.71 billion\n\n * Adjusted EBITDA* expected in a range of $90 million to $100 million\n\nThird Quarter Fiscal Year 2026 – Segment Highlights\n\nSenior\n\n\n * Revenue of $182.9 million\n\n * Adjusted EBITDA of $58.6 million\n\n * Approved Medicare Advantage policies of 175,557\n\nHealthcare Services\n\n\n * Revenue of $199.4 million\n\n * Adjusted EBITDA of $5.3 million\n\n * 116,616 SelectRx members\n\nLife\n\n\n * Revenue of $47.9 million\n\n * Adjusted EBITDA of $6.1 million\n\nSelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the third\nquarter of fiscal year 2026 of $430.9 million compared to consolidated revenue\nfor the third quarter of fiscal year 2025 of $408.2 million. Consolidated net\nincome for the third quarter of fiscal year 2026 was $40.2 million compared to\nconsolidated net income for the third quarter of fiscal year 2025 of $26.0\nmillion. Finally, consolidated Adjusted EBITDA* for the third quarter of\nfiscal year 2026 was $44.6 million compared to consolidated Adjusted EBITDA*\nfor the third quarter of fiscal year 2025 of $37.7 million.\n\nSelectQuote Chief Executive Officer Tim Danker remarked, “SelectQuote\ndelivered consistent profit and cash flow for another quarter, despite market\nshifts for both Medicare Advantage and prescription drugs. We reaffirm our\nfinancial outlook for fiscal 2026 driven by operating execution by our agents\nand continued leverage of our information and technology advantages. Revenue\nto customer acquisition cost of 6.7X represented a high water mark for the\ncompany, and more importantly, signals the value our differentiated healthcare\nservice model provides to policyholders and prescription drug customers.”\n\nMr. Danker continued, “Our goal to drive reliable and consistent profit, and\ncash flow growth remains priority number one. We believe the improvement to\nour capital structure to date, combined with the continued maturation of our\nSelectRx business, positions SelectQuote to materially expand cash flow in the\nyears ahead. We continue to grow our receivables balance, which now stands at\nnearly $1 billion and grew by nearly $50 million over the past year, including\na $14 million positive change in estimate reflective of the durability and\ndependability of these future cash flows.”\n\n* See “Non-GAAP Financial Measures” below.\n\nSegment Results\n\nWe currently have three reportable segments: 1) Senior, 2) Healthcare Services\nand 3) Life. The performance measures of the segments include total revenue\nand adjusted EBITDA. Costs of commissions and other services revenue, cost of\ngoods sold-pharmacy revenue, marketing and advertising, selling, general, and\nadministrative, and technical development operating expenses that are directly\nattributable to a segment are reported within the applicable segment. Indirect\ncosts of revenue, marketing and advertising, selling, general, and\nadministrative, and technical development operating expenses are allocated to\neach segment based on varying metrics such as headcount.\n\nSenior\n\nFinancial Results\n\nThe following table provides the financial results for the Senior segment for\nthe periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,   \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 182,890     $ 169,442     8 % $ 503,426     $ 517,930     (3 )% \n Adjusted EBITDA   58,642       45,701     28 %   140,057       153,949     (9 )% \n Adjusted EBITDA Margin   32 %     27 %       28 %     30 %     \n\n\nOperating Metrics\n\nSubmitted Policies\n\nSubmitted policies are counted when an individual completes an application\nwith our licensed agent and provides authorization to the agent to submit the\napplication to the insurance carrier partner. The applicant may have\nadditional actions to take before the application will be reviewed by the\ninsurance carrier.\n\nThe following table shows the number of submitted policies for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n   2026   2025   % Change 2026   2025   % Change \n Medicare Advantage 196,970   201,817   (2 )% 553,286   588,872   (6 )% \n All other ((1)) 24,912   22,858   9 % 71,632   65,975   9 % \n Total 221,882   224,675   (1 )% 624,918   654,847   (5 )% \n (1) Represents the submitted policies for Medicare supplement, dental, vision \n and hearing, prescription drug plan and other. \n\n\nApproved Policies\n\nApproved policies represents the number of submitted policies that were\napproved by our insurance carrier partners for the identified product during\nthe indicated period. Not all approved policies will go in force.\n\nThe following table shows the number of approved policies for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n   2026   2025   % Change 2026   2025   % Change \n Medicare Advantage 175,557   168,001   4 % 495,346   507,530   (2 )% \n All other ((1)) 21,152   17,623   20 % 55,330   50,316   10 % \n Total 196,709   185,624   6 % 550,676   557,846   (1 )% \n (1) Represents the approved policies for Medicare supplement, dental, vision \n and hearing, prescription drug plan and other. \n\n\nLifetime Value of Commissions per Approved Policy\n\nLifetime value of commissions per approved policy represents commissions\nestimated to be collected over the estimated life of an approved policy based\non multiple factors, including but not limited to, contracted commission\nrates, carrier mix and expected policy persistency with applied constraints.\nThe lifetime value of commissions per approved policy is equal to the sum of\nthe commission revenue due upon the initial sale of a policy, and when\napplicable, an estimate of future renewal commissions.\n\nThe following table shows the lifetime value of commissions per approved\npolicy for the periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (dollars per policy): 2026   2025   % Change 2026   2025   % Change \n Medicare Advantage $ 904   $ 915   (1 )% $ 871   $ 892   (2 )% \n All other((1))   81     151   (46 )%   121     139   (13 )% \n (1) Represents the weighted average LTV per approved policy. \n\n\nHealthcare Services\n\nFinancial Results\n\nThe following table provides the financial results for the Healthcare Services\nsegment for the periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 199,386     $ 189,569     5 % $ 651,391     $ 528,677     23 % \n Adjusted EBITDA   5,278       6,445     (18 )%   13,336       13,534     (1 )% \n Adjusted EBITDA Margin   3 %     3 %       2 %     3 %     \n\n\nOperating Metrics\n\nMembers\n\nThe total number of SelectRx members represents the amount of active customers\nto which an order has been shipped and the prescriptions per day represents\nthe total average prescriptions shipped per business day. These two metrics\nare the primary drivers of revenue for Healthcare Services.\n\nThe following table shows the total number of SelectRx members as of the\nperiods presented:\n     March 31, 2026   March 31, 2025 \n Total SelectRx Members   116,616   105,523 \n\n\nThe total number of SelectRx members increased by 11% as of March 31, 2026,\ncompared to March 31, 2025, due to our strategy to grow SelectRx membership.\n\nThe following table shows the average prescriptions shipped per day for the\nperiods presented:\n     Three Months Ended March 31,   Nine Months Ended March 31, \n     2026   2025   2026   2025 \n Prescriptions Per Day   33,209   29,015   32,384   26,942 \n\n\nCombined Senior and Healthcare Services - Consumer Per Unit Economics\n\nCombined Senior and Healthcare Services consumer per unit economics represents\ntotal MA and MS commissions; other product commissions; other revenues,\nincluding revenues from Healthcare Services; and operating expenses associated\nwith Senior and Healthcare Services, each shown per number of approved MA and\nMS policies over a given time period. Management assesses the business on a\nper-unit basis to help ensure that the revenue opportunity associated with a\nsuccessful policy sale is attractive relative to the marketing acquisition\ncost. Because not all acquired leads result in a successful policy sale, all\nper-policy metrics are based on approved policies, which is the measure that\ntriggers revenue recognition.\n\nThe MA and MS commission per MA/MS policy represents the LTV for policies sold\nin the period. Other commission per MA/MS policy represents the LTV for other\nproducts sold in the period, including DVH prescription drug plan, and other\nproducts, which management views as additional commission revenue on our\nagents’ core function of MA/MS policy sales. Pharmacy revenue per MA/MS\npolicy represents revenue from SelectRx, and other revenue per MA/MS policy\nrepresents revenue from Population Health, production bonuses, marketing\ndevelopment funds, lead generation revenue, and adjustments from the\nCompany’s reassessment of its cohorts’ transaction prices. Total operating\nexpenses per MA/MS policy represents all of the operating expenses within\nSenior and Healthcare Services. The revenue to customer acquisition cost\n(“CAC”) multiple represents total revenue as a multiple of total marketing\nacquisition cost, which represents the direct costs of acquiring leads. These\ncosts are included in marketing and advertising expense within the total\noperating expenses per MA/MS policy.\n\nThe following table shows combined Senior and Healthcare Services consumer per\nunit economics for the periods presented. Based on the seasonality of Senior\nand the fluctuations between quarters, we believe that the most relevant view\nof per unit economics is on a rolling 12-month basis. All per MA/MS policy\nmetrics below are based on the sum of approved MA/MS policies, as both\nproducts have similar commission profiles.\n   Twelve Months Ended March 31, \n (dollars per approved policy): 2026   2025 \n MA and MS approved policies   582,951       616,379   \n MA and MS commission per MA / MS policy $ 868     $ 885   \n Other commission per MA/MS policy   11       13   \n Pharmacy revenue per MA/MS policy   1,461       1,063   \n Other revenue per MA/MS policy   150       103   \n Total revenue per MA / MS policy   2,490       2,064   \n Total operating expenses per MA / MS policy   (2,193 )     (1,794 ) \n Adjusted EBITDA per MA/MS policy $ 297     $ 270   \n Adjusted EBITDA Margin per MA/MS policy   12 %     13 % \n Revenue / CAC multiple 6.7X   5.8X \n\n\nTotal revenue per MA/MS policy increased 21% for the twelve months ended March\n31, 2026, compared to the twelve months ended March 31, 2025, primarily due to\nthe increase in pharmacy revenue. Total operating expenses per MA/MS policy\nincreased 22% for the twelve months ended March 31, 2026, compared to the\ntwelve months ended March 31, 2025, driven by an increase in cost of goods\nsold-pharmacy revenue for Healthcare Services due to the growth of the\nbusiness.\n\nLife\n\nFinancial Results\n\nThe following table provides the financial results for the Life segment for\nthe periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 47,896     $ 45,842     4 % $ 138,166     $ 124,993     11 % \n Adjusted EBITDA   6,084       6,364     (4 )%   17,236       19,747     (13 )% \n Adjusted EBITDA Margin   13 %     14 %       13 %     16 %     \n\n\nOperating Metrics\n\nLife premium represents the total premium value for all policies that were\napproved by the relevant insurance carrier partner and for which the policy\ndocument was sent to the policyholder and payment information was received by\nthe relevant insurance carrier partner during the indicated period. Because\nour commissions are earned based on a percentage of total premium, total\npremium volume for a given period is the key driver of revenue for our Life\nsegment.\n\nThe following table shows term and final expense premiums for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Term Premiums $ 19,123   $ 18,930   1 %   $ 56,079   $ 51,459   9 % \n Final Expense Premiums   27,287     27,681   (1 )%     84,072     74,292   13 % \n Total $ 46,410   $ 46,611   — %   $ 140,151   $ 125,751   11 % \n\n\nEarnings Conference Call\n\nSelectQuote, Inc. will host a conference call with the investment community on\nMay 5, 2026 beginning at 8:30 a.m. ET. To register for this conference call,\nplease use this link: https://events.q4inc.com/analyst/775360431?pwd=VqmW7XWK\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F775360431%3Fpwd%3DVqmW7XWK&esheet=54528864&newsitemid=20260505838568&lan=en-US&anchor=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F775360431%3Fpwd%3DVqmW7XWK&index=1&md5=a1bce96f54482af4e52eb311630199d6)\n. After registering, a confirmation will be sent via email, including dial-in\ndetails and unique conference call codes for entry. Registration is open\nthrough the live call, but to ensure you are connected for the full call we\nsuggest registering at least 10 minutes before the start of the call. The\nevent will also be webcasted live via our investor relations website\nhttps://ir.selectquote.com/investor-home/default.aspx\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fir.selectquote.com%2Finvestor-home%2Fdefault.aspx&esheet=54528864&newsitemid=20260505838568&lan=en-US&anchor=https%3A%2F%2Fir.selectquote.com%2Finvestor-home%2Fdefault.aspx&index=2&md5=e53e78f300456bcd352015e1b5acb57d)\n.\n\nNon-GAAP Financial Measures\n\nThis release includes certain non-GAAP financial measures intended to\nsupplement, not substitute for, comparable GAAP measures. To supplement our\nfinancial statements presented in accordance with GAAP and to provide\ninvestors with additional information regarding our GAAP financial results, we\nhave presented in this release Adjusted EBITDA, which, when presented on a\nconsolidated basis, is a non-GAAP financial measure. This non-GAAP financial\nmeasure is not based on any standardized methodology prescribed by GAAP and is\nnot necessarily comparable to any similarly titled measure presented by other\ncompanies. We define Adjusted EBITDA as net income plus interest expense,\nincome taxes, depreciation and amortization, changes in fair value of warrant\nliabilities, loss on extinguishment of debt, and certain add-backs for\nnon-cash or non-recurring expenses, including restructuring and share-based\ncompensation expenses. The most directly comparable GAAP measure is net\nincome. We monitor and have presented in this release Adjusted EBITDA because\nit is a key measure used by our management and Board of Directors to\nunderstand and evaluate our operating performance, establish budgets, and\ndevelop operational goals for managing our business. In particular, we believe\nthat excluding the impact of these expenses in calculating Adjusted EBITDA can\nprovide a useful measure for period-to-period comparisons of our core\noperating performance.\n\nA reconciliation of the differences between Adjusted EBITDA and its most\ndirectly comparable GAAP measure, net income, is presented below on page 15.\nThe Company is unable to provide a quantitative reconciliation of\nforward-looking Adjusted EBITDA to its most directly comparable GAAP measure\nwithout unreasonable effort because it is not possible to predict certain\ninformation included in the calculation of such GAAP measure, including the\nfair value of outstanding warrants to purchase shares of the Company's common\nstock. The unavailable information could have a significant impact on the\nCompany’s GAAP financial results.\n\nForward Looking Statements\n\nThis release contains forward-looking statements. These forward-looking\nstatements reflect our current views with respect to, among other things,\nfuture events and our financial performance. These statements are often, but\nnot always, made through the use of words or phrases such as “may,”\n“should,” “could,” “predict,” “potential,” “believe,”\n“will likely result,” “expect,” “continue,” “will,”\n“anticipate,” “seek,” “estimate,” “intend,” “plan,”\n“projection,” “would” and “outlook,” or the negative version of\nthose words or other comparable words or phrases of a future or\nforward-looking nature. These forward-looking statements are not historical\nfacts, and are based on current expectations, estimates and projections about\nour industry, management’s beliefs and certain assumptions made by\nmanagement, many of which, by their nature, are inherently uncertain and\nbeyond our control. Accordingly, we caution you that any such forward-looking\nstatements are not guarantees of future performance and are subject to risks,\nassumptions and uncertainties that are difficult to predict. Although we\nbelieve that the expectations reflected in these forward-looking statements\nare reasonable as of the date made, actual results may prove to be materially\ndifferent from the results expressed or implied by the forward-looking\nstatements. There are or will be important factors that could cause our actual\nresults to differ materially from those indicated in these forward-looking\nstatements, including, but not limited to, the following: our reliance on a\nlimited number of insurance carrier partners and any potential termination of\nthose relationships or failure to develop new relationships; existing and\nfuture laws and regulations affecting the health insurance market; changes in\nhealth insurance products offered by our insurance carrier partners and the\nhealth insurance market generally; insurance carriers offering products and\nservices directly to consumers; changes to commissions paid by insurance\ncarriers and underwriting practices; competition with brokers, exclusively\nonline brokers and carriers who opt to sell policies directly to consumers;\ncompetition from government-run health insurance exchanges; developments in\nthe U.S. health insurance system; our dependence on revenue from carriers in\nour senior segment and downturns in the senior health as well as life,\nautomotive and home insurance industries; our ability to develop new offerings\nand penetrate new vertical markets; risks from third-party products; failure\nto enroll individuals during the Medicare annual enrollment period; our\nability to attract, integrate and retain qualified personnel; our dependence\non lead providers and ability to compete for leads; failure to obtain and/or\nconvert sales leads to actual sales of insurance policies; access to data from\nconsumers and insurance carriers; accuracy of information provided from and to\nconsumers during the insurance shopping process; cost-effective advertisement\nthrough internet search engines; ability to contact consumers and market\nproducts by telephone; global economic conditions, including inflation;\ndisruption to operations as a result of future acquisitions; significant\nestimates and assumptions in the preparation of our financial statements;\nimpairment of goodwill; potential litigation and other legal proceedings or\ninquiries; our existing and future indebtedness; our ability to maintain\ncompliance with our debt covenants; access to additional capital; our ability\nto regain and maintain compliance with NYSE listing standards; failure to\nprotect our intellectual property and our brand; fluctuations in our financial\nresults caused by seasonality; accuracy and timeliness of commissions reports\nfrom insurance carriers; timing of insurance carriers’ approval and payment\npractices; factors that impact our estimate of the constrained lifetime value\nof commissions per policyholder; changes in accounting rules, tax legislation\nand other legislation; disruptions or failures of our technological\ninfrastructure and platform; failure to maintain relationships with\nthird-party service providers; cybersecurity breaches or other attacks\ninvolving our systems or those of our insurance carrier partners or\nthird-party service providers; our ability to protect consumer information and\nother data; failure to market and sell Medicare plans effectively or in\ncompliance with laws; and other factors related to our pharmacy business,\nincluding manufacturing or supply chain disruptions, access to and demand for\nprescription drugs, changes in reimbursement rates under our contracts with\npharmacy benefit managers, and regulatory changes or other industry\ndevelopments that may affect our pharmacy operations. For a further discussion\nof these and other risk factors that could impact our future results and\nperformance, see the section entitled “Risk Factors” in the most recent\nAnnual Report on Form 10-K (the “Annual Report”) and subsequent periodic\nreports filed by us with the Securities and Exchange Commission. Accordingly,\nyou should not place undue reliance on any such forward-looking statements.\nAny forward-looking statement speaks only as of the date on which it is made,\nand, except as otherwise required by law, we do not undertake any obligation\nto publicly update or review any forward-looking statement, whether as a\nresult of new information, future developments or otherwise.\n\nAbout SelectQuote:\n\nFounded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing\nunbiased comparisons from multiple, highly-rated insurance companies, allowing\nconsumers to choose the policy and terms that best meet their unique needs.\nTwo foundational pillars underpin SelectQuote’s success: a strong force of\nhighly-trained and skilled agents who provide a consultative needs analysis\nfor every consumer, and proprietary technology that sources and routes\nhigh-quality leads. Today, the Company operates an ecosystem offering high\ntouchpoints for consumers across insurance, pharmacy, and virtual care.\n\nWith an ecosystem offering engagement points for consumers across insurance,\nMedicare, pharmacy, and value-based care, the company now has three core\nbusiness lines: SelectQuote Senior, SelectQuote Healthcare Services, and\nSelectQuote Life. SelectQuote Senior serves the needs of a demographic that\nsees around 10,000 people turn 65 each day with a range of Medicare Advantage\nand Medicare Supplement plans. SelectQuote Healthcare Services is comprised of\nthe SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited\npharmacy, SelectPatient Management, a provider of chronic care management\nservices, and Healthcare Select which proactively connects consumers with a\nwide breadth of healthcare services supporting their needs.\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED BALANCE SHEETS \n (Unaudited) \n (In thousands) \n   \n   March 31, 2026   June 30, 2025 \n ASSETS       \n CURRENT ASSETS:       \n Cash, cash equivalents, and restricted cash $ 35,211     $ 35,733   \n Accounts receivable, net of allowances of $9.2 million and $11.8 million,   234,291       151,388   \n respectively \n Commissions receivable-current   76,836       132,077   \n Other current assets   20,900       21,844   \n Total current assets   367,238       341,042   \n COMMISSIONS RECEIVABLE—Net   882,693       818,751   \n PROPERTY AND EQUIPMENT—Net   13,247       14,577   \n SOFTWARE—Net   16,953       15,060   \n OPERATING LEASE RIGHT-OF-USE ASSETS   21,566       24,635   \n INTANGIBLE ASSETS—Net   1,120       1,973   \n GOODWILL   29,438       29,438   \n OTHER ASSETS   2,455       3,880   \n TOTAL ASSETS $ 1,334,710     $ 1,249,356   \n         \n LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY       \n CURRENT LIABILITIES:       \n Accounts payable $ 103,205     $ 59,205   \n Accrued expenses   24,092       13,856   \n Accrued compensation and benefits   68,646       58,788   \n Operating lease liabilities—current   4,665       4,820   \n Current portion of long-term debt   22,457       68,523   \n Other current liabilities   8,035       7,718   \n Total current liabilities   231,100       212,910   \n LONG-TERM DEBT, NET—less current portion   353,326       316,589   \n DEFERRED INCOME TAXES   45,211       37,872   \n OPERATING LEASE LIABILITIES   22,678       25,982   \n OTHER LIABILITIES   18,904       80,485   \n Total liabilities   671,219       673,838   \n         \n COMMITMENTS AND CONTINGENCIES       \n PREFERRED STOCK:       \n Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued   278,757       224,374   \n and outstanding as of March 31, 2026 and June 30, 2025, respectively, current \n liquidation preference of $408.4 million and $367.1 million as of March 31, \n 2026 and June 30, 2025. \n SHAREHOLDERS’ EQUITY:       \n Common stock, $0.01 par value   1,763       1,728   \n Additional paid-in capital   526,129       571,605   \n Accumulated deficit   (143,158 )     (222,189 ) \n Total shareholders’ equity   384,734       351,144   \n TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY $ 1,334,710     $ 1,249,356   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME \n (Unaudited) \n (In thousands) \n   \n   Three Months Ended March 31,   Nine Months Ended March 31, \n   2026   2025   2026   2025 \n REVENUE:               \n Commissions and other services $ 235,663     $ 222,889     $ 655,823     $ 663,338   \n Pharmacy   195,270       185,271       641,023       518,154   \n Total revenue   430,933       408,160       1,296,846       1,181,492   \n                 \n OPERATING COSTS AND EXPENSES:               \n Cost of commissions and other services revenue   83,268       79,412       255,403       246,283   \n Cost of goods sold—pharmacy revenue   171,289       162,304       569,262       448,029   \n Marketing and advertising   92,481       92,733       259,456       254,222   \n Selling, general, and administrative   38,188       41,685       112,948       122,850   \n Technical development   9,777       9,967       29,283       29,086   \n Total operating costs and expenses   395,003       386,101       1,226,352       1,100,470   \n                 \n INCOME FROM OPERATIONS   35,930       22,059       70,494       81,022   \n                 \n INTEREST EXPENSE, NET   (10,602 )     (20,407 )     (34,023 )     (67,160 ) \n CHANGE IN FAIR VALUE OF WARRANTS   27,489       32,986       61,821       25,344   \n LOSS ON EXTINGUISHMENT OF DEBT   (8,659 )     —       (8,659 )     —   \n OTHER EXPENSE, NET   (34 )     (37 )     (216 )     (70 ) \n INCOME BEFORE INCOME TAX EXPENSE   44,124       34,601       89,417       39,136   \n INCOME TAX EXPENSE   3,927       8,579       10,386       4,424   \n                 \n NET INCOME $ 40,197     $ 26,022     $ 79,031     $ 34,712   \n Senior Non-Convertible Preferred Stock accumulated dividends and accretion   (18,775 )     (5,787 )   (54,382 )   (5,787 ) \n NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 21,422     $ 20,235     $ 24,649     $ 28,925   \n                 \n NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS PER SHARE:               \n Basic $ 0.11     $ 0.11     $ 0.13     $ 0.17   \n Diluted $ 0.11     $ 0.03     $ 0.11     $ 0.13   \n                 \n WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:               \n Basic   189,455       178,156       187,614       173,462   \n Diluted   190,481       186,639       190,647       178,895   \n                 \n OTHER COMPREHENSIVE LOSS, NET OF TAX:               \n Unrealized loss, net of related tax benefit for the three and nine months   —       —       —       (432 ) \n ended March 31, 2026, and 2025, of $0.0 million and $0.1 million \n Amount reclassified into earnings, net of related tax benefit for the three   —       —       —       (3,680 ) \n months ended March 31, 2026, and 2025, of $0.0 million, and $0.0 million and \n for the nine months ended March 31, 2026, and 2025, of $0.0 million and $1.3 \n million. \n OTHER COMPREHENSIVE LOSS   —       —       —       (4,112 ) \n COMPREHENSIVE INCOME $ 40,197     $ 26,022     $ 79,031     $ 30,600   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n (Unaudited) \n (In thousands) \n   \n   Nine Months Ended March 31, \n   2026   2025 \n CASH FLOWS FROM OPERATING ACTIVITIES:       \n Net income $ 79,031     $ 34,712   \n Adjustments to reconcile net income to net cash, cash equivalents, and       \n restricted cash provided by operating activities: \n Depreciation and amortization   13,007       15,584   \n Loss on disposal of property, equipment, and software   —       160   \n Impairment of equity-method investment   1,000       —   \n Loss on extinguishment of debt   8,659       —   \n Share-based compensation expense   11,480       13,505   \n Deferred income taxes   7,340       4,424   \n Amortization of debt issuance costs and debt discount   3,343       3,880   \n Write-off of debt issuance costs   —       93   \n Accrued interest payable in kind   —       13,301   \n Change in fair value of warrants   (61,821 )     (25,344 ) \n Non-cash lease expense   3,070       2,849   \n Bad debt expense   —       4,203   \n Changes in operating assets and liabilities:       \n Accounts receivable, net   (82,903 )     (39,047 ) \n Commissions receivable   (8,702 )     (33,765 ) \n Other assets   1,261       (343 ) \n Accounts payable and accrued expenses   53,583       41,163   \n Operating lease liabilities   (3,459 )     (3,574 ) \n Other liabilities   10,315       (5,985 ) \n Net cash provided by operating activities   35,204       25,816   \n CASH FLOWS FROM INVESTING ACTIVITIES:       \n Purchases of property and equipment   (3,093 )     (1,690 ) \n Purchases of software and capitalized software development costs   (8,490 )     (6,513 ) \n Net cash used in investing activities   (11,583 )     (8,203 ) \n CASH FLOWS FROM FINANCING ACTIVITIES:       \n Proceeds from revolving credit facility   270,000       166,900   \n Payments on revolving credit facility   (270,000 )     (166,900 ) \n Net proceeds from Term Loan   315,234       —   \n Payments on Term Loans   (314,000 )     (384,644 ) \n Proceeds from ABS Notes   —       99,095   \n Payments on ABS Notes   (15,016 )     (11,723 ) \n Payments on other debt   (380 )     (202 ) \n Proceeds from common stock options exercised and employee stock purchase plan   —       112   \n Proceeds from issuance of Senior Non-Convertible Preferred Stock   —       337,855   \n Senior Non-Convertible Preferred Stock issuance costs   —       (7,076 ) \n Payments of tax withholdings related to net share settlement of equity awards   (2,539 )     (5,019 ) \n Payments of debt issuance costs   (7,730 )     (2,479 ) \n Net cash (used in) provided by financing activities   (24,431 )     25,919   \n NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   (810 )     43,532   \n CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period   37,066       42,690   \n CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period $ 36,256     $ 86,222   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation by Segment of Adjusted EBITDA to Income before income tax \n expense \n (Unaudited) \n   \n   Three Months Ended March 31, 2026 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 182,890     $ 199,386     $ 47,896     $ 430,172   \n Less:               \n Cost of commissions and other services revenue   (54,596 )     (6,976 )     (18,465 )     \n Cost of goods sold - pharmacy revenue   —       (169,814 )     —       \n Marketing expense   (69,060 )     (1,686 )     (23,131 )     \n Technical development   —       (318 )     —       \n Selling, general, and administrative   (592 )     (15,314 )     (216 )     \n Adjusted Segment EBITDA $ 58,642     $ 5,278     $ 6,084     $ 70,004   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               1,376   \n Corporate               (26,790 ) \n Share-based compensation expense               (3,678 ) \n Transaction costs               (631 ) \n Depreciation and amortization               (4,385 ) \n Loss on extinguishment of debt               (8,659 ) \n Change in fair value of warrants               27,489   \n Interest expense, net               (10,602 ) \n Income before income tax expense             $ 44,124   \n\n   Three Months Ended March 31, 2025 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 169,442     $ 189,569     $ 45,842     $ 404,853   \n Less:               \n Cost of commissions and other services revenue   (53,374 )     (5,816 )     (17,415 )     \n Cost of goods sold - pharmacy revenue   —       (161,026 )     —       \n Marketing expense   (69,808 )     (1,939 )     (21,789 )     \n Technical development   —       (491 )     —       \n Selling, general, and administrative   (559 )     (13,852 )     (274 )     \n Adjusted Segment EBITDA $ 45,701     $ 6,445     $ 6,364     $ 58,510   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               3,549   \n Corporate               (24,336 ) \n Share-based compensation expense               (4,960 ) \n Transaction costs               (5,813 ) \n Depreciation and amortization               (4,925 ) \n Loss on disposal of property, equipment, and software, net               (3 ) \n Change in fair value of warrants               32,986   \n Interest expense, net               (20,407 ) \n Income before income tax expense             $ 34,601   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation by Segment of Adjusted EBITDA to Income before income tax \n expense \n (Unaudited) \n   \n   Nine Months Ended March 31, 2026 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 503,426     $ 651,391     $ 138,166     $ 1,292,983   \n Less:               \n Cost of commissions and other services revenue   (170,884 )     (21,635 )     (53,848 )     \n Cost of goods sold - pharmacy revenue   —       (564,995 )     —       \n Marketing expense   (190,746 )     (6,309 )     (66,267 )     \n Technical development   —       (1,068 )     —       \n Selling, general, and administrative   (1,739 )     (44,048 )     (815 )     \n Adjusted Segment EBITDA $ 140,057     $ 13,336     $ 17,236     $ 170,629   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               5,366   \n Corporate               (78,752 ) \n Share-based compensation expense               (11,480 ) \n Transaction costs               (1,478 ) \n Depreciation and amortization               (13,007 ) \n Impairment of equity-method investment               (1,000 ) \n Loss on extinguishment of debt               (8,659 ) \n Change in fair value of warrants               61,821   \n Interest expense, net               (34,023 ) \n Income before income tax expense             $ 89,417   \n\n   Nine Months Ended March 31, 2025 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 517,930     $ 528,677     $ 124,993     $ 1,171,600   \n Less:               \n Cost of commissions and other services revenue   (169,543 )     (19,627 )     (47,028 )     \n Cost of goods sold - pharmacy revenue   —       (444,401 )     —       \n Marketing expense   (192,583 )     (6,088 )     (57,456 )     \n Technical development   —       (1,691 )     —       \n Selling, general, and administrative   (1,855 )     (43,336 )     (762 )     \n Adjusted Segment EBITDA $ 153,949     $ 13,534     $ 19,747     $ 187,230   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               9,645   \n Corporate               (73,316 ) \n Share-based compensation expense               (13,505 ) \n Transaction costs               (13,358 ) \n Depreciation and amortization               (15,584 ) \n Loss on disposal of property, equipment, and software, net               (160 ) \n Change in fair value of warrants               25,344   \n Interest expense, net               (67,160 ) \n Income before income tax expense             $ 39,136   \n\n RECONCILIATION OF NON-GAAP MEASURE \n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation of Net income to Adjusted EBITDA \n (Unaudited) \n   \n   Three Months Ended March 31,   Nine Months Ended March 31, \n (in thousands) 2026   2025   2026   2025 \n Net income $ 40,197     $ 26,022     $ 79,031     $ 34,712   \n Share-based compensation expense   3,678       4,960       11,480       13,505   \n Transaction costs   631       5,813       1,478       13,358   \n Depreciation and amortization   4,385       4,925       13,007       15,584   \n Loss on disposal of property, equipment, and software, net   —       3       —       160   \n Impairment of equity-method investment   —       —       1,000       —   \n Loss on extinguishment of debt   8,659       —       8,659       —   \n Change in fair value of warrants   (27,489 )     (32,986 )     (61,821 )     (25,344 ) \n Interest expense, net   10,602       20,407       34,023       67,160   \n Income tax expense   3,927       8,579       10,386       4,424   \n Adjusted EBITDA $ 44,590     $ 37,723     $ 97,243     $ 123,559   \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260505838568/en/\n(https://www.businesswire.com/news/home/20260505838568/en/)\n\nInvestor Relations:\n\nSloan Bohlen\n\n877-678-4083\n\ninvestorrelations@selectquote.com (mailto:investorrelations@selectquote.com)\n\nMedia:\n\nMatt Gunter\n\n913-286-4931\n\nmatt.gunter@selectquote.com (mailto:matt.gunter@selectquote.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw15yfFKa","title":"SelectQuote, Inc. Reports Third Quarter of Fiscal Year 2026 Results","author":"Business Wire","ticker":"SLQT","created":"2026-05-05T11:00:01.600Z","tickers":["SLQT"],"exchange":"NYSE","article_body":"SelectQuote, Inc. Reports Third Quarter of Fiscal Year 2026 Results\n\nThird Quarter of Fiscal Year 2026 – Consolidated Earnings Highlights\n\n\n * Revenue of $430.9 million\n\n * Net income of $40.2 million\n\n * Adjusted EBITDA* of $44.6 million\n\nFiscal Year 2026 Guidance Ranges:\n\n\n * Revenue expected in a range of $1.61 billion to $1.71 billion\n\n * Adjusted EBITDA* expected in a range of $90 million to $100 million\n\nThird Quarter Fiscal Year 2026 – Segment Highlights\n\nSenior\n\n\n * Revenue of $182.9 million\n\n * Adjusted EBITDA of $58.6 million\n\n * Approved Medicare Advantage policies of 175,557\n\nHealthcare Services\n\n\n * Revenue of $199.4 million\n\n * Adjusted EBITDA of $5.3 million\n\n * 116,616 SelectRx members\n\nLife\n\n\n * Revenue of $47.9 million\n\n * Adjusted EBITDA of $6.1 million\n\nSelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the third\nquarter of fiscal year 2026 of $430.9 million compared to consolidated revenue\nfor the third quarter of fiscal year 2025 of $408.2 million. Consolidated net\nincome for the third quarter of fiscal year 2026 was $40.2 million compared to\nconsolidated net income for the third quarter of fiscal year 2025 of $26.0\nmillion. Finally, consolidated Adjusted EBITDA* for the third quarter of\nfiscal year 2026 was $44.6 million compared to consolidated Adjusted EBITDA*\nfor the third quarter of fiscal year 2025 of $37.7 million.\n\nSelectQuote Chief Executive Officer Tim Danker remarked, “SelectQuote\ndelivered consistent profit and cash flow for another quarter, despite market\nshifts for both Medicare Advantage and prescription drugs. We reaffirm our\nfinancial outlook for fiscal 2026 driven by operating execution by our agents\nand continued leverage of our information and technology advantages. Revenue\nto customer acquisition cost of 6.7X represented a high water mark for the\ncompany, and more importantly, signals the value our differentiated healthcare\nservice model provides to policyholders and prescription drug customers.”\n\nMr. Danker continued, “Our goal to drive reliable and consistent profit, and\ncash flow growth remains priority number one. We believe the improvement to\nour capital structure to date, combined with the continued maturation of our\nSelectRx business, positions SelectQuote to materially expand cash flow in the\nyears ahead. We continue to grow our receivables balance, which now stands at\nnearly $1 billion and grew by nearly $50 million over the past year, including\na $14 million positive change in estimate reflective of the durability and\ndependability of these future cash flows.”\n\n* See “Non-GAAP Financial Measures” below.\n\nSegment Results\n\nWe currently have three reportable segments: 1) Senior, 2) Healthcare Services\nand 3) Life. The performance measures of the segments include total revenue\nand adjusted EBITDA. Costs of commissions and other services revenue, cost of\ngoods sold-pharmacy revenue, marketing and advertising, selling, general, and\nadministrative, and technical development operating expenses that are directly\nattributable to a segment are reported within the applicable segment. Indirect\ncosts of revenue, marketing and advertising, selling, general, and\nadministrative, and technical development operating expenses are allocated to\neach segment based on varying metrics such as headcount.\n\nSenior\n\nFinancial Results\n\nThe following table provides the financial results for the Senior segment for\nthe periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,   \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 182,890     $ 169,442     8 % $ 503,426     $ 517,930     (3 )% \n Adjusted EBITDA   58,642       45,701     28 %   140,057       153,949     (9 )% \n Adjusted EBITDA Margin   32 %     27 %       28 %     30 %     \n\n\nOperating Metrics\n\nSubmitted Policies\n\nSubmitted policies are counted when an individual completes an application\nwith our licensed agent and provides authorization to the agent to submit the\napplication to the insurance carrier partner. The applicant may have\nadditional actions to take before the application will be reviewed by the\ninsurance carrier.\n\nThe following table shows the number of submitted policies for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n   2026   2025   % Change 2026   2025   % Change \n Medicare Advantage 196,970   201,817   (2 )% 553,286   588,872   (6 )% \n All other ((1)) 24,912   22,858   9 % 71,632   65,975   9 % \n Total 221,882   224,675   (1 )% 624,918   654,847   (5 )% \n (1) Represents the submitted policies for Medicare supplement, dental, vision \n and hearing, prescription drug plan and other. \n\n\nApproved Policies\n\nApproved policies represents the number of submitted policies that were\napproved by our insurance carrier partners for the identified product during\nthe indicated period. Not all approved policies will go in force.\n\nThe following table shows the number of approved policies for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n   2026   2025   % Change 2026   2025   % Change \n Medicare Advantage 175,557   168,001   4 % 495,346   507,530   (2 )% \n All other ((1)) 21,152   17,623   20 % 55,330   50,316   10 % \n Total 196,709   185,624   6 % 550,676   557,846   (1 )% \n (1) Represents the approved policies for Medicare supplement, dental, vision \n and hearing, prescription drug plan and other. \n\n\nLifetime Value of Commissions per Approved Policy\n\nLifetime value of commissions per approved policy represents commissions\nestimated to be collected over the estimated life of an approved policy based\non multiple factors, including but not limited to, contracted commission\nrates, carrier mix and expected policy persistency with applied constraints.\nThe lifetime value of commissions per approved policy is equal to the sum of\nthe commission revenue due upon the initial sale of a policy, and when\napplicable, an estimate of future renewal commissions.\n\nThe following table shows the lifetime value of commissions per approved\npolicy for the periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (dollars per policy): 2026   2025   % Change 2026   2025   % Change \n Medicare Advantage $ 904   $ 915   (1 )% $ 871   $ 892   (2 )% \n All other((1))   81     151   (46 )%   121     139   (13 )% \n (1) Represents the weighted average LTV per approved policy. \n\n\nHealthcare Services\n\nFinancial Results\n\nThe following table provides the financial results for the Healthcare Services\nsegment for the periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 199,386     $ 189,569     5 % $ 651,391     $ 528,677     23 % \n Adjusted EBITDA   5,278       6,445     (18 )%   13,336       13,534     (1 )% \n Adjusted EBITDA Margin   3 %     3 %       2 %     3 %     \n\n\nOperating Metrics\n\nMembers\n\nThe total number of SelectRx members represents the amount of active customers\nto which an order has been shipped and the prescriptions per day represents\nthe total average prescriptions shipped per business day. These two metrics\nare the primary drivers of revenue for Healthcare Services.\n\nThe following table shows the total number of SelectRx members as of the\nperiods presented:\n     March 31, 2026   March 31, 2025 \n Total SelectRx Members   116,616   105,523 \n\n\nThe total number of SelectRx members increased by 11% as of March 31, 2026,\ncompared to March 31, 2025, due to our strategy to grow SelectRx membership.\n\nThe following table shows the average prescriptions shipped per day for the\nperiods presented:\n     Three Months Ended March 31,   Nine Months Ended March 31, \n     2026   2025   2026   2025 \n Prescriptions Per Day   33,209   29,015   32,384   26,942 \n\n\nCombined Senior and Healthcare Services - Consumer Per Unit Economics\n\nCombined Senior and Healthcare Services consumer per unit economics represents\ntotal MA and MS commissions; other product commissions; other revenues,\nincluding revenues from Healthcare Services; and operating expenses associated\nwith Senior and Healthcare Services, each shown per number of approved MA and\nMS policies over a given time period. Management assesses the business on a\nper-unit basis to help ensure that the revenue opportunity associated with a\nsuccessful policy sale is attractive relative to the marketing acquisition\ncost. Because not all acquired leads result in a successful policy sale, all\nper-policy metrics are based on approved policies, which is the measure that\ntriggers revenue recognition.\n\nThe MA and MS commission per MA/MS policy represents the LTV for policies sold\nin the period. Other commission per MA/MS policy represents the LTV for other\nproducts sold in the period, including DVH prescription drug plan, and other\nproducts, which management views as additional commission revenue on our\nagents’ core function of MA/MS policy sales. Pharmacy revenue per MA/MS\npolicy represents revenue from SelectRx, and other revenue per MA/MS policy\nrepresents revenue from Population Health, production bonuses, marketing\ndevelopment funds, lead generation revenue, and adjustments from the\nCompany’s reassessment of its cohorts’ transaction prices. Total operating\nexpenses per MA/MS policy represents all of the operating expenses within\nSenior and Healthcare Services. The revenue to customer acquisition cost\n(“CAC”) multiple represents total revenue as a multiple of total marketing\nacquisition cost, which represents the direct costs of acquiring leads. These\ncosts are included in marketing and advertising expense within the total\noperating expenses per MA/MS policy.\n\nThe following table shows combined Senior and Healthcare Services consumer per\nunit economics for the periods presented. Based on the seasonality of Senior\nand the fluctuations between quarters, we believe that the most relevant view\nof per unit economics is on a rolling 12-month basis. All per MA/MS policy\nmetrics below are based on the sum of approved MA/MS policies, as both\nproducts have similar commission profiles.\n   Twelve Months Ended March 31, \n (dollars per approved policy): 2026   2025 \n MA and MS approved policies   582,951       616,379   \n MA and MS commission per MA / MS policy $ 868     $ 885   \n Other commission per MA/MS policy   11       13   \n Pharmacy revenue per MA/MS policy   1,461       1,063   \n Other revenue per MA/MS policy   150       103   \n Total revenue per MA / MS policy   2,490       2,064   \n Total operating expenses per MA / MS policy   (2,193 )     (1,794 ) \n Adjusted EBITDA per MA/MS policy $ 297     $ 270   \n Adjusted EBITDA Margin per MA/MS policy   12 %     13 % \n Revenue / CAC multiple 6.7X   5.8X \n\n\nTotal revenue per MA/MS policy increased 21% for the twelve months ended March\n31, 2026, compared to the twelve months ended March 31, 2025, primarily due to\nthe increase in pharmacy revenue. Total operating expenses per MA/MS policy\nincreased 22% for the twelve months ended March 31, 2026, compared to the\ntwelve months ended March 31, 2025, driven by an increase in cost of goods\nsold-pharmacy revenue for Healthcare Services due to the growth of the\nbusiness.\n\nLife\n\nFinancial Results\n\nThe following table provides the financial results for the Life segment for\nthe periods presented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Revenue $ 47,896     $ 45,842     4 % $ 138,166     $ 124,993     11 % \n Adjusted EBITDA   6,084       6,364     (4 )%   17,236       19,747     (13 )% \n Adjusted EBITDA Margin   13 %     14 %       13 %     16 %     \n\n\nOperating Metrics\n\nLife premium represents the total premium value for all policies that were\napproved by the relevant insurance carrier partner and for which the policy\ndocument was sent to the policyholder and payment information was received by\nthe relevant insurance carrier partner during the indicated period. Because\nour commissions are earned based on a percentage of total premium, total\npremium volume for a given period is the key driver of revenue for our Life\nsegment.\n\nThe following table shows term and final expense premiums for the periods\npresented:\n   Three Months Ended March 31,     Nine Months Ended March 31,     \n (in thousands) 2026   2025   % Change 2026   2025   % Change \n Term Premiums $ 19,123   $ 18,930   1 %   $ 56,079   $ 51,459   9 % \n Final Expense Premiums   27,287     27,681   (1 )%     84,072     74,292   13 % \n Total $ 46,410   $ 46,611   — %   $ 140,151   $ 125,751   11 % \n\n\nEarnings Conference Call\n\nSelectQuote, Inc. will host a conference call with the investment community on\nMay 5, 2026 beginning at 8:30 a.m. ET. To register for this conference call,\nplease use this link: https://events.q4inc.com/analyst/775360431?pwd=VqmW7XWK\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F775360431%3Fpwd%3DVqmW7XWK&esheet=54528864&newsitemid=20260505838568&lan=en-US&anchor=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F775360431%3Fpwd%3DVqmW7XWK&index=1&md5=a1bce96f54482af4e52eb311630199d6)\n. After registering, a confirmation will be sent via email, including dial-in\ndetails and unique conference call codes for entry. Registration is open\nthrough the live call, but to ensure you are connected for the full call we\nsuggest registering at least 10 minutes before the start of the call. The\nevent will also be webcasted live via our investor relations website\nhttps://ir.selectquote.com/investor-home/default.aspx\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fir.selectquote.com%2Finvestor-home%2Fdefault.aspx&esheet=54528864&newsitemid=20260505838568&lan=en-US&anchor=https%3A%2F%2Fir.selectquote.com%2Finvestor-home%2Fdefault.aspx&index=2&md5=e53e78f300456bcd352015e1b5acb57d)\n.\n\nNon-GAAP Financial Measures\n\nThis release includes certain non-GAAP financial measures intended to\nsupplement, not substitute for, comparable GAAP measures. To supplement our\nfinancial statements presented in accordance with GAAP and to provide\ninvestors with additional information regarding our GAAP financial results, we\nhave presented in this release Adjusted EBITDA, which, when presented on a\nconsolidated basis, is a non-GAAP financial measure. This non-GAAP financial\nmeasure is not based on any standardized methodology prescribed by GAAP and is\nnot necessarily comparable to any similarly titled measure presented by other\ncompanies. We define Adjusted EBITDA as net income plus interest expense,\nincome taxes, depreciation and amortization, changes in fair value of warrant\nliabilities, loss on extinguishment of debt, and certain add-backs for\nnon-cash or non-recurring expenses, including restructuring and share-based\ncompensation expenses. The most directly comparable GAAP measure is net\nincome. We monitor and have presented in this release Adjusted EBITDA because\nit is a key measure used by our management and Board of Directors to\nunderstand and evaluate our operating performance, establish budgets, and\ndevelop operational goals for managing our business. In particular, we believe\nthat excluding the impact of these expenses in calculating Adjusted EBITDA can\nprovide a useful measure for period-to-period comparisons of our core\noperating performance.\n\nA reconciliation of the differences between Adjusted EBITDA and its most\ndirectly comparable GAAP measure, net income, is presented below on page 15.\nThe Company is unable to provide a quantitative reconciliation of\nforward-looking Adjusted EBITDA to its most directly comparable GAAP measure\nwithout unreasonable effort because it is not possible to predict certain\ninformation included in the calculation of such GAAP measure, including the\nfair value of outstanding warrants to purchase shares of the Company's common\nstock. The unavailable information could have a significant impact on the\nCompany’s GAAP financial results.\n\nForward Looking Statements\n\nThis release contains forward-looking statements. These forward-looking\nstatements reflect our current views with respect to, among other things,\nfuture events and our financial performance. These statements are often, but\nnot always, made through the use of words or phrases such as “may,”\n“should,” “could,” “predict,” “potential,” “believe,”\n“will likely result,” “expect,” “continue,” “will,”\n“anticipate,” “seek,” “estimate,” “intend,” “plan,”\n“projection,” “would” and “outlook,” or the negative version of\nthose words or other comparable words or phrases of a future or\nforward-looking nature. These forward-looking statements are not historical\nfacts, and are based on current expectations, estimates and projections about\nour industry, management’s beliefs and certain assumptions made by\nmanagement, many of which, by their nature, are inherently uncertain and\nbeyond our control. Accordingly, we caution you that any such forward-looking\nstatements are not guarantees of future performance and are subject to risks,\nassumptions and uncertainties that are difficult to predict. Although we\nbelieve that the expectations reflected in these forward-looking statements\nare reasonable as of the date made, actual results may prove to be materially\ndifferent from the results expressed or implied by the forward-looking\nstatements. There are or will be important factors that could cause our actual\nresults to differ materially from those indicated in these forward-looking\nstatements, including, but not limited to, the following: our reliance on a\nlimited number of insurance carrier partners and any potential termination of\nthose relationships or failure to develop new relationships; existing and\nfuture laws and regulations affecting the health insurance market; changes in\nhealth insurance products offered by our insurance carrier partners and the\nhealth insurance market generally; insurance carriers offering products and\nservices directly to consumers; changes to commissions paid by insurance\ncarriers and underwriting practices; competition with brokers, exclusively\nonline brokers and carriers who opt to sell policies directly to consumers;\ncompetition from government-run health insurance exchanges; developments in\nthe U.S. health insurance system; our dependence on revenue from carriers in\nour senior segment and downturns in the senior health as well as life,\nautomotive and home insurance industries; our ability to develop new offerings\nand penetrate new vertical markets; risks from third-party products; failure\nto enroll individuals during the Medicare annual enrollment period; our\nability to attract, integrate and retain qualified personnel; our dependence\non lead providers and ability to compete for leads; failure to obtain and/or\nconvert sales leads to actual sales of insurance policies; access to data from\nconsumers and insurance carriers; accuracy of information provided from and to\nconsumers during the insurance shopping process; cost-effective advertisement\nthrough internet search engines; ability to contact consumers and market\nproducts by telephone; global economic conditions, including inflation;\ndisruption to operations as a result of future acquisitions; significant\nestimates and assumptions in the preparation of our financial statements;\nimpairment of goodwill; potential litigation and other legal proceedings or\ninquiries; our existing and future indebtedness; our ability to maintain\ncompliance with our debt covenants; access to additional capital; our ability\nto regain and maintain compliance with NYSE listing standards; failure to\nprotect our intellectual property and our brand; fluctuations in our financial\nresults caused by seasonality; accuracy and timeliness of commissions reports\nfrom insurance carriers; timing of insurance carriers’ approval and payment\npractices; factors that impact our estimate of the constrained lifetime value\nof commissions per policyholder; changes in accounting rules, tax legislation\nand other legislation; disruptions or failures of our technological\ninfrastructure and platform; failure to maintain relationships with\nthird-party service providers; cybersecurity breaches or other attacks\ninvolving our systems or those of our insurance carrier partners or\nthird-party service providers; our ability to protect consumer information and\nother data; failure to market and sell Medicare plans effectively or in\ncompliance with laws; and other factors related to our pharmacy business,\nincluding manufacturing or supply chain disruptions, access to and demand for\nprescription drugs, changes in reimbursement rates under our contracts with\npharmacy benefit managers, and regulatory changes or other industry\ndevelopments that may affect our pharmacy operations. For a further discussion\nof these and other risk factors that could impact our future results and\nperformance, see the section entitled “Risk Factors” in the most recent\nAnnual Report on Form 10-K (the “Annual Report”) and subsequent periodic\nreports filed by us with the Securities and Exchange Commission. Accordingly,\nyou should not place undue reliance on any such forward-looking statements.\nAny forward-looking statement speaks only as of the date on which it is made,\nand, except as otherwise required by law, we do not undertake any obligation\nto publicly update or review any forward-looking statement, whether as a\nresult of new information, future developments or otherwise.\n\nAbout SelectQuote:\n\nFounded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing\nunbiased comparisons from multiple, highly-rated insurance companies, allowing\nconsumers to choose the policy and terms that best meet their unique needs.\nTwo foundational pillars underpin SelectQuote’s success: a strong force of\nhighly-trained and skilled agents who provide a consultative needs analysis\nfor every consumer, and proprietary technology that sources and routes\nhigh-quality leads. Today, the Company operates an ecosystem offering high\ntouchpoints for consumers across insurance, pharmacy, and virtual care.\n\nWith an ecosystem offering engagement points for consumers across insurance,\nMedicare, pharmacy, and value-based care, the company now has three core\nbusiness lines: SelectQuote Senior, SelectQuote Healthcare Services, and\nSelectQuote Life. SelectQuote Senior serves the needs of a demographic that\nsees around 10,000 people turn 65 each day with a range of Medicare Advantage\nand Medicare Supplement plans. SelectQuote Healthcare Services is comprised of\nthe SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited\npharmacy, SelectPatient Management, a provider of chronic care management\nservices, and Healthcare Select which proactively connects consumers with a\nwide breadth of healthcare services supporting their needs.\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED BALANCE SHEETS \n (Unaudited) \n (In thousands) \n   \n   March 31, 2026   June 30, 2025 \n ASSETS       \n CURRENT ASSETS:       \n Cash, cash equivalents, and restricted cash $ 35,211     $ 35,733   \n Accounts receivable, net of allowances of $9.2 million and $11.8 million,   234,291       151,388   \n respectively \n Commissions receivable-current   76,836       132,077   \n Other current assets   20,900       21,844   \n Total current assets   367,238       341,042   \n COMMISSIONS RECEIVABLE—Net   882,693       818,751   \n PROPERTY AND EQUIPMENT—Net   13,247       14,577   \n SOFTWARE—Net   16,953       15,060   \n OPERATING LEASE RIGHT-OF-USE ASSETS   21,566       24,635   \n INTANGIBLE ASSETS—Net   1,120       1,973   \n GOODWILL   29,438       29,438   \n OTHER ASSETS   2,455       3,880   \n TOTAL ASSETS $ 1,334,710     $ 1,249,356   \n         \n LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY       \n CURRENT LIABILITIES:       \n Accounts payable $ 103,205     $ 59,205   \n Accrued expenses   24,092       13,856   \n Accrued compensation and benefits   68,646       58,788   \n Operating lease liabilities—current   4,665       4,820   \n Current portion of long-term debt   22,457       68,523   \n Other current liabilities   8,035       7,718   \n Total current liabilities   231,100       212,910   \n LONG-TERM DEBT, NET—less current portion   353,326       316,589   \n DEFERRED INCOME TAXES   45,211       37,872   \n OPERATING LEASE LIABILITIES   22,678       25,982   \n OTHER LIABILITIES   18,904       80,485   \n Total liabilities   671,219       673,838   \n         \n COMMITMENTS AND CONTINGENCIES       \n PREFERRED STOCK:       \n Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued   278,757       224,374   \n and outstanding as of March 31, 2026 and June 30, 2025, respectively, current \n liquidation preference of $408.4 million and $367.1 million as of March 31, \n 2026 and June 30, 2025. \n SHAREHOLDERS’ EQUITY:       \n Common stock, $0.01 par value   1,763       1,728   \n Additional paid-in capital   526,129       571,605   \n Accumulated deficit   (143,158 )     (222,189 ) \n Total shareholders’ equity   384,734       351,144   \n TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY $ 1,334,710     $ 1,249,356   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME \n (Unaudited) \n (In thousands) \n   \n   Three Months Ended March 31,   Nine Months Ended March 31, \n   2026   2025   2026   2025 \n REVENUE:               \n Commissions and other services $ 235,663     $ 222,889     $ 655,823     $ 663,338   \n Pharmacy   195,270       185,271       641,023       518,154   \n Total revenue   430,933       408,160       1,296,846       1,181,492   \n                 \n OPERATING COSTS AND EXPENSES:               \n Cost of commissions and other services revenue   83,268       79,412       255,403       246,283   \n Cost of goods sold—pharmacy revenue   171,289       162,304       569,262       448,029   \n Marketing and advertising   92,481       92,733       259,456       254,222   \n Selling, general, and administrative   38,188       41,685       112,948       122,850   \n Technical development   9,777       9,967       29,283       29,086   \n Total operating costs and expenses   395,003       386,101       1,226,352       1,100,470   \n                 \n INCOME FROM OPERATIONS   35,930       22,059       70,494       81,022   \n                 \n INTEREST EXPENSE, NET   (10,602 )     (20,407 )     (34,023 )     (67,160 ) \n CHANGE IN FAIR VALUE OF WARRANTS   27,489       32,986       61,821       25,344   \n LOSS ON EXTINGUISHMENT OF DEBT   (8,659 )     —       (8,659 )     —   \n OTHER EXPENSE, NET   (34 )     (37 )     (216 )     (70 ) \n INCOME BEFORE INCOME TAX EXPENSE   44,124       34,601       89,417       39,136   \n INCOME TAX EXPENSE   3,927       8,579       10,386       4,424   \n                 \n NET INCOME $ 40,197     $ 26,022     $ 79,031     $ 34,712   \n Senior Non-Convertible Preferred Stock accumulated dividends and accretion   (18,775 )     (5,787 )   (54,382 )   (5,787 ) \n NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 21,422     $ 20,235     $ 24,649     $ 28,925   \n                 \n NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS PER SHARE:               \n Basic $ 0.11     $ 0.11     $ 0.13     $ 0.17   \n Diluted $ 0.11     $ 0.03     $ 0.11     $ 0.13   \n                 \n WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:               \n Basic   189,455       178,156       187,614       173,462   \n Diluted   190,481       186,639       190,647       178,895   \n                 \n OTHER COMPREHENSIVE LOSS, NET OF TAX:               \n Unrealized loss, net of related tax benefit for the three and nine months   —       —       —       (432 ) \n ended March 31, 2026, and 2025, of $0.0 million and $0.1 million \n Amount reclassified into earnings, net of related tax benefit for the three   —       —       —       (3,680 ) \n months ended March 31, 2026, and 2025, of $0.0 million, and $0.0 million and \n for the nine months ended March 31, 2026, and 2025, of $0.0 million and $1.3 \n million. \n OTHER COMPREHENSIVE LOSS   —       —       —       (4,112 ) \n COMPREHENSIVE INCOME $ 40,197     $ 26,022     $ 79,031     $ 30,600   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n (Unaudited) \n (In thousands) \n   \n   Nine Months Ended March 31, \n   2026   2025 \n CASH FLOWS FROM OPERATING ACTIVITIES:       \n Net income $ 79,031     $ 34,712   \n Adjustments to reconcile net income to net cash, cash equivalents, and       \n restricted cash provided by operating activities: \n Depreciation and amortization   13,007       15,584   \n Loss on disposal of property, equipment, and software   —       160   \n Impairment of equity-method investment   1,000       —   \n Loss on extinguishment of debt   8,659       —   \n Share-based compensation expense   11,480       13,505   \n Deferred income taxes   7,340       4,424   \n Amortization of debt issuance costs and debt discount   3,343       3,880   \n Write-off of debt issuance costs   —       93   \n Accrued interest payable in kind   —       13,301   \n Change in fair value of warrants   (61,821 )     (25,344 ) \n Non-cash lease expense   3,070       2,849   \n Bad debt expense   —       4,203   \n Changes in operating assets and liabilities:       \n Accounts receivable, net   (82,903 )     (39,047 ) \n Commissions receivable   (8,702 )     (33,765 ) \n Other assets   1,261       (343 ) \n Accounts payable and accrued expenses   53,583       41,163   \n Operating lease liabilities   (3,459 )     (3,574 ) \n Other liabilities   10,315       (5,985 ) \n Net cash provided by operating activities   35,204       25,816   \n CASH FLOWS FROM INVESTING ACTIVITIES:       \n Purchases of property and equipment   (3,093 )     (1,690 ) \n Purchases of software and capitalized software development costs   (8,490 )     (6,513 ) \n Net cash used in investing activities   (11,583 )     (8,203 ) \n CASH FLOWS FROM FINANCING ACTIVITIES:       \n Proceeds from revolving credit facility   270,000       166,900   \n Payments on revolving credit facility   (270,000 )     (166,900 ) \n Net proceeds from Term Loan   315,234       —   \n Payments on Term Loans   (314,000 )     (384,644 ) \n Proceeds from ABS Notes   —       99,095   \n Payments on ABS Notes   (15,016 )     (11,723 ) \n Payments on other debt   (380 )     (202 ) \n Proceeds from common stock options exercised and employee stock purchase plan   —       112   \n Proceeds from issuance of Senior Non-Convertible Preferred Stock   —       337,855   \n Senior Non-Convertible Preferred Stock issuance costs   —       (7,076 ) \n Payments of tax withholdings related to net share settlement of equity awards   (2,539 )     (5,019 ) \n Payments of debt issuance costs   (7,730 )     (2,479 ) \n Net cash (used in) provided by financing activities   (24,431 )     25,919   \n NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   (810 )     43,532   \n CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period   37,066       42,690   \n CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period $ 36,256     $ 86,222   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation by Segment of Adjusted EBITDA to Income before income tax \n expense \n (Unaudited) \n   \n   Three Months Ended March 31, 2026 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 182,890     $ 199,386     $ 47,896     $ 430,172   \n Less:               \n Cost of commissions and other services revenue   (54,596 )     (6,976 )     (18,465 )     \n Cost of goods sold - pharmacy revenue   —       (169,814 )     —       \n Marketing expense   (69,060 )     (1,686 )     (23,131 )     \n Technical development   —       (318 )     —       \n Selling, general, and administrative   (592 )     (15,314 )     (216 )     \n Adjusted Segment EBITDA $ 58,642     $ 5,278     $ 6,084     $ 70,004   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               1,376   \n Corporate               (26,790 ) \n Share-based compensation expense               (3,678 ) \n Transaction costs               (631 ) \n Depreciation and amortization               (4,385 ) \n Loss on extinguishment of debt               (8,659 ) \n Change in fair value of warrants               27,489   \n Interest expense, net               (10,602 ) \n Income before income tax expense             $ 44,124   \n\n   Three Months Ended March 31, 2025 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 169,442     $ 189,569     $ 45,842     $ 404,853   \n Less:               \n Cost of commissions and other services revenue   (53,374 )     (5,816 )     (17,415 )     \n Cost of goods sold - pharmacy revenue   —       (161,026 )     —       \n Marketing expense   (69,808 )     (1,939 )     (21,789 )     \n Technical development   —       (491 )     —       \n Selling, general, and administrative   (559 )     (13,852 )     (274 )     \n Adjusted Segment EBITDA $ 45,701     $ 6,445     $ 6,364     $ 58,510   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               3,549   \n Corporate               (24,336 ) \n Share-based compensation expense               (4,960 ) \n Transaction costs               (5,813 ) \n Depreciation and amortization               (4,925 ) \n Loss on disposal of property, equipment, and software, net               (3 ) \n Change in fair value of warrants               32,986   \n Interest expense, net               (20,407 ) \n Income before income tax expense             $ 34,601   \n\n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation by Segment of Adjusted EBITDA to Income before income tax \n expense \n (Unaudited) \n   \n   Nine Months Ended March 31, 2026 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 503,426     $ 651,391     $ 138,166     $ 1,292,983   \n Less:               \n Cost of commissions and other services revenue   (170,884 )     (21,635 )     (53,848 )     \n Cost of goods sold - pharmacy revenue   —       (564,995 )     —       \n Marketing expense   (190,746 )     (6,309 )     (66,267 )     \n Technical development   —       (1,068 )     —       \n Selling, general, and administrative   (1,739 )     (44,048 )     (815 )     \n Adjusted Segment EBITDA $ 140,057     $ 13,336     $ 17,236     $ 170,629   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               5,366   \n Corporate               (78,752 ) \n Share-based compensation expense               (11,480 ) \n Transaction costs               (1,478 ) \n Depreciation and amortization               (13,007 ) \n Impairment of equity-method investment               (1,000 ) \n Loss on extinguishment of debt               (8,659 ) \n Change in fair value of warrants               61,821   \n Interest expense, net               (34,023 ) \n Income before income tax expense             $ 89,417   \n\n   Nine Months Ended March 31, 2025 \n (in thousands) Senior   Healthcare Services   Life   Total \n Total revenue from reportable segments $ 517,930     $ 528,677     $ 124,993     $ 1,171,600   \n Less:               \n Cost of commissions and other services revenue   (169,543 )     (19,627 )     (47,028 )     \n Cost of goods sold - pharmacy revenue   —       (444,401 )     —       \n Marketing expense   (192,583 )     (6,088 )     (57,456 )     \n Technical development   —       (1,691 )     —       \n Selling, general, and administrative   (1,855 )     (43,336 )     (762 )     \n Adjusted Segment EBITDA $ 153,949     $ 13,534     $ 19,747     $ 187,230   \n Reconciliation of total segment Adjusted EBITDA               \n All other Adjusted EBITDA               9,645   \n Corporate               (73,316 ) \n Share-based compensation expense               (13,505 ) \n Transaction costs               (13,358 ) \n Depreciation and amortization               (15,584 ) \n Loss on disposal of property, equipment, and software, net               (160 ) \n Change in fair value of warrants               25,344   \n Interest expense, net               (67,160 ) \n Income before income tax expense             $ 39,136   \n\n RECONCILIATION OF NON-GAAP MEASURE \n SELECTQUOTE, INC. AND SUBSIDIARIES \n Reconciliation of Net income to Adjusted EBITDA \n (Unaudited) \n   \n   Three Months Ended March 31,   Nine Months Ended March 31, \n (in thousands) 2026   2025   2026   2025 \n Net income $ 40,197     $ 26,022     $ 79,031     $ 34,712   \n Share-based compensation expense   3,678       4,960       11,480       13,505   \n Transaction costs   631       5,813       1,478       13,358   \n Depreciation and amortization   4,385       4,925       13,007       15,584   \n Loss on disposal of property, equipment, and software, net   —       3       —       160   \n Impairment of equity-method investment   —       —       1,000       —   \n Loss on extinguishment of debt   8,659       —       8,659       —   \n Change in fair value of warrants   (27,489 )     (32,986 )     (61,821 )     (25,344 ) \n Interest expense, net   10,602       20,407       34,023       67,160   \n Income tax expense   3,927       8,579       10,386       4,424   \n Adjusted EBITDA $ 44,590     $ 37,723     $ 97,243     $ 123,559   \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260505838568/en/\n(https://www.businesswire.com/news/home/20260505838568/en/)\n\nInvestor Relations:\n\nSloan Bohlen\n\n877-678-4083\n\ninvestorrelations@selectquote.com (mailto:investorrelations@selectquote.com)\n\nMedia:\n\nMatt Gunter\n\n913-286-4931\n\nmatt.gunter@selectquote.com (mailto:matt.gunter@selectquote.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-05-05T11:00:01.778126789Z","server_sent_at_ms":1777978801778},"received_at":"2026-05-05T11:00:01.865Z","source_url":"https://www.businesswire.com/news/home/20260505838568/en/"},"analysis":{"id":"15274","press_release_id":"20691","analysis_json":{"industry":{"label":"Insurance","sector":"Financials"},"redFlags":[],"eventType":"earnings","narrative":"SelectQuote reported Q3 FY26 revenue of $430.9 million, up from $408.2 million in the prior year, while net income increased to $40.2 million from $26.0 million.\n\nManagement reaffirmed its fiscal 2026 guidance, expecting revenue between $1.61 billion and $1.71 billion and Adjusted EBITDA between $90 million and $100 million.\n\nCEO Tim Danker highlighted a record revenue to customer acquisition cost multiple of 6.7X and noted that receivables have grown to nearly $1 billion.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Strong profitability and operational efficiency underscored by a record revenue-to-CAC multiple."},"keyFigures":{"eps":0.11,"revenue":"$430.9 million","guidance":"FY26 revenue $1.61B-$1.71B; Adjusted EBITDA $90M-$100M","revenueYoy":"$430.9M vs $408.2M","customDimensions":{"netIncome":"$40.2 million","revenueToCAC":"6.7X","adjustedEBITDA":"$44.6 million"}},"quotedText":"Revenue to customer acquisition cost of 6.7X represented a high water mark for the company","namedEntities":{"people":[{"name":"Tim Danker","role":"CEO"},{"name":"Sloan Bohlen","role":"Investor Relations"}],"products":["SelectRx","Medicare Advantage"],"companies":[{"name":"SelectQuote, Inc.","ticker":"SLQT"}],"dollarAmounts":[{"amount":"$430.9 million","context":"Q3 FY26 revenue"},{"amount":"$40.2 million","context":"Q3 FY26 net income"},{"amount":"$44.6 million","context":"Q3 FY26 Adjusted EBITDA"},{"amount":"$1.61 billion to $1.71 billion","context":"FY26 revenue guidance"},{"amount":"$90 million to $100 million","context":"FY26 Adjusted EBITDA guidance"},{"amount":"$1 billion","context":"receivables balance"}]},"materialImpact":{"score":3,"reasoning":"SelectQuote reported solid Q3 results with revenue rising to $430.9 million (from $408.2 million) and net income increasing to $40.2 million (from $26.0 million) year-over-year. Management reaffirmed FY26 guidance, citing consistent profit and cash flow execution. While performance is strong, the reaffirmation of guidance (rather than a raise) and the absence of a binary event or massive surprise limit the score to 3."},"tickerRelevance":{"others":[],"primary":"SLQT"},"globalImportance":30,"audienceRelevance":35,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"small-mid-cap","eventGravity":"earnings-reaffirmation","sectorWeight":"insurance","issuerAuthored":true}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"SelectQuote reported Q3 FY26 revenue of $430.9 million, up from $408.2 million in the prior year, while net income increased to $40.2 million from $26.0 million.\n\nManagement reaffirmed its fiscal 2026 guidance, expecting revenue between $1.61 billion and $1.71 billion and Adjusted EBITDA between $90 million and $100 million.\n\nCEO Tim Danker highlighted a record revenue to customer acquisition cost multiple of 6.7X and noted that receivables have grown to nearly $1 billion.","key_figures":{"eps":0.11,"revenue":"$430.9 million","guidance":"FY26 revenue $1.61B-$1.71B; Adjusted EBITDA $90M-$100M","revenueYoy":"$430.9M vs $408.2M","customDimensions":{"netIncome":"$40.2 million","revenueToCAC":"6.7X","adjustedEBITDA":"$44.6 million"}},"named_entities":{"people":[{"name":"Tim Danker","role":"CEO"},{"name":"Sloan Bohlen","role":"Investor Relations"}],"products":["SelectRx","Medicare Advantage"],"companies":[{"name":"SelectQuote, Inc.","ticker":"SLQT"}],"dollarAmounts":[{"amount":"$430.9 million","context":"Q3 FY26 revenue"},{"amount":"$40.2 million","context":"Q3 FY26 net income"},{"amount":"$44.6 million","context":"Q3 FY26 Adjusted EBITDA"},{"amount":"$1.61 billion to $1.71 billion","context":"FY26 revenue guidance"},{"amount":"$90 million to $100 million","context":"FY26 Adjusted EBITDA guidance"},{"amount":"$1 billion","context":"receivables balance"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-05T11:46:56.327Z","global_importance":30,"audience_relevance":35,"importance_components":{"tickerTier":"small-mid-cap","eventGravity":"earnings-reaffirmation","sectorWeight":"insurance","issuerAuthored":true}},"durationMs":45120,"modelName":"glm-4.7"}}